FB Financial Corporation (NYSE:FBK) Stock Has Average Price Target of $64.67 According to Brokerages

Shares of FB Financial Corporation (NYSE:FBK) have been given an average recommendation of “Buy” by the seven ratings firms that are presently covering the company, Marketbeat reports. Six analysts have rated the stock with a buy rating and one has issued a strong buy rating on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $64.67.

A number of equities analysts have commented on FBK shares. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of FB Financial in a report on Tuesday, July 14th. Raymond James Financial increased their target price on shares of FB Financial from $62.00 to $63.00 and gave the stock a “strong-buy” rating in a report on Wednesday, July 1st. Weiss Ratings upgraded shares of FB Financial from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, August 5th. Finally, Benchmark lifted their price target on shares of FB Financial from $64.00 to $67.00 and gave the company a “buy” rating in a report on Wednesday, July 15th.

Hedge Funds Weigh In On FB Financial

A number of hedge funds and other institutional investors have recently bought and sold shares of FBK. BlackRock Inc. acquired a new stake in shares of FB Financial during the 2nd quarter worth approximately $348,592,000. Northwestern Mutual Wealth Management Co. boosted its position in FB Financial by 1,690,485.4% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,127,583 shares of the financial services provider’s stock valued at $174,519,000 after purchasing an additional 3,127,398 shares during the period. Dimensional Fund Advisors LP boosted its position in FB Financial by 1.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,000,484 shares of the financial services provider’s stock valued at $103,905,000 after purchasing an additional 28,023 shares during the period. Deprince Race & Zollo Inc. grew its stake in FB Financial by 9.4% during the 1st quarter. Deprince Race & Zollo Inc. now owns 1,036,393 shares of the financial services provider’s stock worth $53,830,000 after buying an additional 89,465 shares during the last quarter. Finally, Bank of America Corp DE bought a new position in FB Financial during the 2nd quarter worth $39,460,000. 65.40% of the stock is currently owned by institutional investors and hedge funds.

FB Financial Stock Up 0.4%

Shares of FB Financial stock opened at $52.85 on Friday. The business has a 50-day moving average price of $57.97 and a 200 day moving average price of $55.22. FB Financial has a fifty-two week low of $49.24 and a fifty-two week high of $62.65. The firm has a market cap of $2.64 billion, a P/E ratio of 14.17 and a beta of 0.92.

FB Financial (NYSE:FBK) last released its earnings results on Monday, July 13th. The financial services provider reported $1.14 EPS for the quarter, hitting analysts’ consensus estimates of $1.14. FB Financial had a return on equity of 12.08% and a net margin of 19.00%.The company had revenue of $175.94 million for the quarter, compared to the consensus estimate of $177.45 million. As a group, equities research analysts anticipate that FB Financial will post 4.67 earnings per share for the current year.

FB Financial Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 25th. Shareholders of record on Tuesday, August 11th were issued a $0.21 dividend. The ex-dividend date of this dividend was Tuesday, August 11th. This represents a $0.84 dividend on an annualized basis and a yield of 1.6%. FB Financial’s dividend payout ratio (DPR) is currently 22.52%.

FB Financial Company Profile

FB Financial Corporation is a bank holding company headquartered in Nashville, Tennessee. Through its principal subsidiary, FirstBank, the company provides banking and financial services to individuals, businesses and institutions.

FirstBank offers deposit accounts, residential and commercial real estate loans, commercial and industrial lending, consumer loans, treasury management and other traditional banking products. The company also provides mortgage banking and wealth management services, supporting customers with home financing, investment and financial planning needs.

Founded in 1906, FirstBank serves communities primarily across Tennessee, Kentucky and Alabama through its branch network and digital banking channels.